The recent liberalisation of motor insurance in Malaysia beginning 1 July is said to drive fairer ways of pricing according an individual’s risk profile. As cheaper premiums await more responsible drivers, the move is expected to indirectly promote safe driving.
According to motor insurance giant AmGeneral Insurance Berhad, the liberalisation of motor insurance means that the price of motor insurance products will no longer be controlled by the authorities, but determined by the insurance companies themselves.
It is said that insurance companies are able to charge premiums that are in line with broader risk factors inherent in a group of policyholders being insured; and also sell new products that are not defined under the tariff.
While many of us may have an idea on how the liberalisation will affect insurance premiums, some motorists may not understand things fully.
So, in order to help those who have doubts relating to this matter, AmGeneral has introduced the “Talk to us” campaign, which aims to encourage the public to call their friendly and approachable agents to get all the information they need to choose the best insurance plans.
“Today we are taking the first step in transitioning from what has been a consistent, calm and predictable insurance market into a competitive, vibrant and challenging one,” said Derek Roberts, Chief Executive Officer of AmGeneral Insurance Berhad.
“We are fully committed to continuously deliver our valued services with our two strong brands, AmAssurance and Kurnia through Liberalisation - services we have built over the years for our customers,” explained Grace Quah, Chief Distribution Officer of AmGeneral Insurance Berhad during the kickoff of the Liberalisation campaign.
“As we lay the infrastructure for customer focused solutions, efficient processes and responsiveness, our goals are simple, and that is to deliver the best service, the best value and build lasting customer relationships.”
“We are positioned perfectly to deliver this through our network of 7,000 agents and partners nationwide. Let us embrace the new opportunities made available with Liberalisation and continue to be the Most Trusted Insurer in Malaysia”, says Roberts.